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      Lizhi Inc. (LIZI) Plummets in the After Hours Following Q3 Earnings Report - Stocks Telegraph

      By Gule Rukhsar

      Published on

      November 30, 2021

      6:11 AM UTC

      Lizhi Inc. (LIZI) Plummets in the After Hours Following Q3 Earnings Report - Stocks Telegraph

      Lizhi Inc. (LIZI) stock lost 6.75% at $2.35 in the aftermarket at a volume of 358.32 thousand on November 29. During market hours, the stock saw an increase of 4.56% to close on $2.52 at a volume of 1.55 million. The day’s range of the stock varied between a high of $2.71 and a low of $2.37. While in the 52-week range the stock fluctuated between $2.15 and $16.75 with 563.54 thousand shares exchanging hands on average (65 days). In the past month, LIZI stock went down by 19.75% and 47.17% in the last three months. While the stock has lost a value of 35.05% year to date. The current market capital of the stock is $121.17 million with its 34.3 million shares outstanding. The stock seems to be in a downtrend following the third-quarter earnings report of the company.

      Lizhi Inc. (LIZI)

      Founded in 2010, Lizhi Inc. (LIZI) operates an online user-generated content audio community, interactive audio entertainment platform, and online audio platform. Its platforms are operated in both China and the United States. The company provides podcasts, live streaming, and audio entertainment products. Moreover, it also has various apps and products like the Lizhi app, Tiya app, and Lizhi podcast.

      Lizhi Inc. (LIZI) is headquartered in Guangzhou, the Peoples Republic of China.

      Previous News

      Prior to the downtrend in the after-hours on Monday, LIZI stock was bullish on news of the company’s developments. On November 26, the company announced that it has been named one of “China’s Top 100 Internet Companies of 2021”. The title was awarded by the Internet Society of China (ISC) to the company. This news along with expectations for the Q3 earnings had the stock on a bullish path until the Q3 earnings came out.

      LIZI’s Q3 Earnings

      On November 29, Lizhi Inc. (LIZI) announced its unaudited third-quarter financial results for the year 2021. The third quarter of 2021, had revenue of RMB504.8 million (US$78.4 million), compared to RMB361.5 million in that of 2020. The revenue increased by 40% year over year.

      Moreover, the non-GAAP net loss attributable to ordinary shareholders for the third quarter of 2021, was RMB27.2 million (US$4.2 million). While the same was RMB0.6 million in the third quarter of 2020.

      Consequently, the non-GAAP basic and diluted net loss per ADS was RMB0.54 (US$0.08) in Q3 2021, against RMB0.01 per ADS in Q3 2020.

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